Ray and Jock discuss the best approach for pulling back from a bad decision and why sunk cost fallacy makes it so tricky, why the invention of the Post-It note was not serendipity, and how to measure true progress.
Podcast: Download (Duration: 22:17 — 31.1MB)
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In this episode
0:00 Opening titles
0:14 Should we continue?
1:59 Sunk cost fallacy
3:02 Stepping back gracefully
4:47 What you’ve delivered = progress
5:58 Don’t be that guy
7:15 Don’t chase vanity metrics
7:54 The real story behind Post-It notes
11:36 The truth of a situation
13:58 When company culture blocks you
15:32 Changing the weather in your organisation
17:50 Innovation versus sustaining
20:18 Changing 1000 people’s minds
21:53 Closing credits
Other media mentioned
Changing the weather inside your organisation – Tom Loosemore – https://vimeo.com/318705032
The Innovator’s Dilemma – Clayton Christensen – https://amzn.to/3wD6F6A
Note that these are Amazon affiliate links, meaning we would earn a small commission on any purchases you make.
About The Pig Wrestlers
Ray Rafiq is the founder of increasingly larger businesses: Regent Street Cinema, Baker Street Bakery, Wigwamm, GetAgent, Unmortgage.
Jock Busuttil is the founder of Product People Limited, a freelance head of product, author and conference speaker, with over two decades’ experience helping technology companies. (jockbusuttil.com)
Recorded on 28 May 2021
Music: Crazy Glue (Instrumental Version) by Josh Woodward (CC-BY 4.0)
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